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Matrix Lab's preferential offer
HYDERABAD: Matrix Laboratories has signed definitive agreements with India Newbridge Investments and Maxwell for the issue of 11.25 lakh equity shares each to the two strategic investors at a price of Rs. 1,500 per share on a preferential basis. In view of these investments being made by strategic investors, the board of directors has also been reconstituted by inducting Puneet Bhatia, Dr. Fred Cohen and S. Iswaran as directors. According to a release issued here on Friday, the company has also called for an EGM on May 15 to seek fresh approval from the shareholders for the preferential issue, keeping in view the latest guidelines of the Securities and Exchange Board of India. It said India Newbridge is the investment vehicle of the U.S. based Newbridge Capital and Maxwell is the investment vehicle of Singapore Government owned Temasek Holding. — Our Special Correspondent
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